Monsanto buyer welcomes biotech

8 March 2000



Monsanto buyer welcomes biotech

THE head of Pharmacia & Upjohn has spoken up for the GM technology he will inherit when his pharmaceutical company merges with life sciences giant Monsanto.

Fred Hassan will head the new company, to be called Pharmacia, in the merger.

The deal will see 20% of the Monsanto agribusiness sold off, and the remainder run separately with its own management.

But despite signs that anti-GM activism is spreading in America, Mr Hassan is confident the public can be won over, reports the Financial Times.

“Its clearly a very major PR challenge. But its not difficult from a science point of view.

“Its an emotional issue.”

Mr Hassan said his company would go on an “education offensive” in Europe.

Agrochemicals is expected to contribute just 22% to Pharmacias pre-tax profits by 2002, and GM crops will be a small part of that.

• Monsanto name to be modified, FWi, 28 January, 2000
• Monsanto to sell GM business, FWi, 20 December, 1999
  
• Financial Times 08/03/2000 page 33